UMB Financial (NASDAQ:UMBF) Upgraded to Outperform at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of UMB Financial (NASDAQ:UMBF) from a sector perform rating to an outperform rating in a research report report published on Thursday morning, MarketBeat reports. Royal Bank Of Canada currently has $128.00 target price on the bank’s stock.

Other research analysts also recently issued research reports about the company. Hovde Group assumed coverage on UMB Financial in a report on Monday, October 6th. They set an “outperform” rating on the stock. Barclays set a $155.00 target price on UMB Financial and gave the company an “overweight” rating in a report on Wednesday, October 8th. Truist Financial lifted their price target on shares of UMB Financial from $130.00 to $144.00 and gave the company a “buy” rating in a report on Monday, September 8th. Wells Fargo & Company boosted their price objective on shares of UMB Financial from $125.00 to $130.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Finally, TD Cowen dropped their target price on shares of UMB Financial from $151.00 to $149.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $137.20.

UMB Financial Trading Down 0.1%

NASDAQ:UMBF opened at $107.06 on Thursday. The firm has a market capitalization of $8.13 billion, a P/E ratio of 12.12, a P/E/G ratio of 1.11 and a beta of 0.80. The company has a quick ratio of 0.77, a current ratio of 0.75 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average of $116.70 and a 200 day moving average of $110.05. UMB Financial has a 52 week low of $82.00 and a 52 week high of $129.94.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, October 28th. The bank reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.22. The firm had revenue of $678.34 million for the quarter, compared to analysts’ expectations of $661.60 million. UMB Financial had a net margin of 16.01% and a return on equity of 12.15%. The company’s revenue for the quarter was up 67.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.25 earnings per share. On average, research analysts predict that UMB Financial will post 9.66 earnings per share for the current year.

UMB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Wednesday, December 10th will be given a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.6%. This is a boost from UMB Financial’s previous quarterly dividend of $0.40. UMB Financial’s payout ratio is currently 19.48%.

Insider Buying and Selling

In related news, insider Nikki Farentino Newton sold 1,300 shares of UMB Financial stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $106.09, for a total transaction of $137,917.00. Following the completion of the transaction, the insider directly owned 13,667 shares of the company’s stock, valued at $1,449,932.03. This trade represents a 8.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Stacy H. King sold 1,500 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $118.88, for a total transaction of $178,320.00. Following the completion of the sale, the insider owned 9,472 shares in the company, valued at approximately $1,126,031.36. This trade represents a 13.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders purchased 683 shares of company stock worth $75,961 and sold 22,145 shares worth $2,578,583. 5.45% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in UMBF. Vanguard Group Inc. grew its stake in shares of UMB Financial by 54.0% in the first quarter. Vanguard Group Inc. now owns 7,332,764 shares of the bank’s stock worth $741,342,000 after acquiring an additional 2,570,283 shares during the last quarter. State Street Corp boosted its stake in UMB Financial by 7.9% in the 2nd quarter. State Street Corp now owns 4,296,190 shares of the bank’s stock worth $453,461,000 after purchasing an additional 313,414 shares in the last quarter. Dimensional Fund Advisors LP grew its position in UMB Financial by 78.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank’s stock valued at $273,029,000 after purchasing an additional 1,185,671 shares during the last quarter. Wellington Management Group LLP increased its stake in UMB Financial by 19.1% during the 1st quarter. Wellington Management Group LLP now owns 2,407,115 shares of the bank’s stock valued at $243,359,000 after purchasing an additional 385,830 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in UMB Financial by 7.7% in the first quarter. American Century Companies Inc. now owns 2,054,007 shares of the bank’s stock worth $207,660,000 after buying an additional 146,585 shares during the last quarter. Hedge funds and other institutional investors own 87.78% of the company’s stock.

About UMB Financial

UMB Financial Corporation operates as the bank holding company that provides banking services and asset servicing in the United States and internationally. The Commercial Banking segment provides commercial loans and credit card; commercial real estate financing; letters of credit; loan syndication, and consultative service; various business solutions including asset-based lending, mezzanine debt, and minority equity investment; and treasury management service, such as depository service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic fund transfer and automated payment, controlled disbursement, lockbox service, and remote deposit capture service.